Find the Average Rate of Change Illustrated in the Graph $\mathrm { f } ( \mathrm { x } ) = 3.1 \mathrm { x } + 33$

question 322

Multiple Choice

Find the average rate of change illustrated in the graph.
-The linear function $\mathrm { f } ( \mathrm { x } ) = 3.1 \mathrm { x } + 33$ models the percentage of people, $\mathrm { f } ( \mathrm { x } )$ , who graduated from college $x$ years after 1998. Find and interpret the slope.

• A) \(\mathrm { m } = 3.1\); the percentage of people graduating from college has decreased at a rate of \(3.1 \%\) per year since \(1998 .\)
• B) \(\mathrm { m } = 33\); the percentage of people graduating from college has increased at a rate of \(33 \%\) per year since \(1998 .\)
• C) \(\mathrm { m } = - 3.1\); the percentage of people graduating from college has decreased at a rate of \(3.1 \%\) per year since \(1998 .\)
• D) \(m = 3.1\); the percentage of people graduating from college has increased at a rate of \(3.1 \%\) per year since \(1998 .\)

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Definitions:

Present Value Amount

The current value of a future sum of money or stream of cash flows given a specified rate of return, important in discounting and investment decisions.

Rate of Earnings

A measure of profitability that indicates how much profits a company generates from its operations.

Present Value Factor

A factor used to calculate the present value of a future amount of money or stream of payments, considering a specific interest rate.

Rate of Return

The gain or loss of an investment over a specified period, expressed as a percentage of the investment’s cost.